Bismarck Rewane, a leading Nigerian economist, has projected that the listing of Aliko Dangotes 20 billion refinery on the Nigerian Exchange NGX could more than double the countrys stock market capitalization, potentially boosting it above 140 billion.
NGX could hit 140 billion valuation
Rewane, chief executive officer of Financial Derivatives Company and chairman of FCMB Asset Management Limited , who has more than 40 years experience in finance, said the listing could push Nigerias market value above N200 trillion 140 billion. Currently, the NGXs market capitalization is pegged at N105 trillion 74 billion at the time of drafting this report.
